Simplicity Wealth LLC Has $1.84 Million Position in Hubbell Incorporated (NYSE:HUBB)

Simplicity Wealth LLC raised its stake in shares of Hubbell Incorporated (NYSE:HUBB) by 14.3% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 4,398 shares of the industrial products company’s stock after purchasing an additional 550 shares during the quarter. Simplicity Wealth LLC’s holdings in Hubbell were worth $1,842,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of HUBB. Mizuho Securities USA LLC grew its position in shares of Hubbell by 192,421.1% during the 3rd quarter. Mizuho Securities USA LLC now owns 7,980,000 shares of the industrial products company’s stock worth $3,418,233,000 after buying an additional 7,975,855 shares during the period. Impax Asset Management Group plc grew its position in shares of Hubbell by 30.3% during the 3rd quarter. Impax Asset Management Group plc now owns 1,202,455 shares of the industrial products company’s stock worth $514,377,000 after buying an additional 279,654 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Hubbell by 268.3% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 231,130 shares of the industrial products company’s stock worth $99,005,000 after buying an additional 168,380 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Hubbell during the 4th quarter worth about $63,647,000. Finally, Bank of New York Mellon Corp grew its position in shares of Hubbell by 4.8% in the 4th quarter. Bank of New York Mellon Corp now owns 2,826,327 shares of the industrial products company’s stock valued at $1,183,920,000 after purchasing an additional 129,490 shares during the period. 88.16% of the stock is currently owned by institutional investors and hedge funds.

Hubbell Trading Up 2.5 %

Shares of Hubbell stock opened at $355.05 on Monday. Hubbell Incorporated has a 12-month low of $337.97 and a 12-month high of $481.35. The stock has a market cap of $19.05 billion, a P/E ratio of 24.73, a P/E/G ratio of 1.34 and a beta of 0.94. The company has a quick ratio of 0.98, a current ratio of 1.64 and a debt-to-equity ratio of 0.44. The business’s 50 day moving average is $406.11 and its 200-day moving average is $423.49.

Hubbell (NYSE:HUBB) last announced its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $4.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.02 by $0.08. Hubbell had a return on equity of 28.62% and a net margin of 13.82%. The company had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.41 billion. During the same quarter in the prior year, the business posted $3.69 EPS. The business’s revenue was down .9% compared to the same quarter last year. Equities research analysts predict that Hubbell Incorporated will post 17.63 earnings per share for the current fiscal year.

Hubbell Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Friday, February 28th will be issued a $1.32 dividend. This represents a $5.28 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date is Friday, February 28th. Hubbell’s dividend payout ratio is 36.77%.

Hubbell declared that its board has approved a stock repurchase plan on Wednesday, February 12th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the industrial products company to repurchase up to 2.4% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

Several brokerages recently issued reports on HUBB. Barclays decreased their price objective on Hubbell from $475.00 to $422.00 and set an “equal weight” rating for the company in a research report on Monday, March 3rd. Deutsche Bank Aktiengesellschaft lowered Hubbell from a “buy” rating to a “hold” rating and decreased their price objective for the company from $493.00 to $473.00 in a research report on Tuesday, November 26th. StockNews.com upgraded Hubbell from a “hold” rating to a “buy” rating in a research note on Monday, February 17th. Finally, Wells Fargo & Company cut their target price on Hubbell from $455.00 to $450.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 7th. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $464.88.

Insider Transactions at Hubbell

In related news, insider Alyssa R. Flynn sold 1,164 shares of the firm’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $389.06, for a total value of $452,865.84. Following the sale, the insider now directly owns 4,327 shares of the company’s stock, valued at $1,683,462.62. This trade represents a 21.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.66% of the stock is currently owned by insiders.

About Hubbell

Hubbell Incorporated, together with its subsidiaries, designs, manufactures, and sells electrical and utility solutions in the United States and internationally. It operates through two segments, Electrical Solutions and Utility Solutions. The Electrical Solution segment offers standard and special application wiring device products, rough-in electrical products, connector and grounding products, lighting fixtures, and other electrical equipment for use in industrial, commercial, and institutional facilities by electrical contractors, maintenance personnel, electricians, utilities, and telecommunications companies, as well as components and assemblies.